$98.35 Million in Sales Expected for First Merchants Co. (FRME) This Quarter

Analysts expect that First Merchants Co. (NASDAQ:FRME) will announce $98.35 million in sales for the current fiscal quarter, according to Zacks. Two analysts have made estimates for First Merchants’ earnings, with estimates ranging from $95.20 million to $101.50 million. First Merchants reported sales of $75.85 million in the same quarter last year, which indicates a positive year-over-year growth rate of 29.7%. The business is expected to report its next quarterly earnings results on Thursday, April 26th.

On average, analysts expect that First Merchants will report full-year sales of $98.35 million for the current financial year, with estimates ranging from $398.80 million to $416.00 million. For the next financial year, analysts expect that the company will post sales of $438.55 million per share, with estimates ranging from $424.40 million to $452.70 million. Zacks Investment Research’s sales calculations are an average based on a survey of sell-side research firms that follow First Merchants.

First Merchants (NASDAQ:FRME) last issued its quarterly earnings results on Thursday, January 25th. The bank reported $0.61 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.61. First Merchants had a net margin of 24.90% and a return on equity of 9.95%. The company had revenue of $97.83 million for the quarter, compared to the consensus estimate of $98.30 million.

Several equities analysts recently weighed in on the stock. FIG Partners reiterated a “market-perform” rating on shares of First Merchants in a report on Monday, January 29th. Piper Jaffray Companies reiterated a “hold” rating and issued a $48.00 price target on shares of First Merchants in a report on Sunday, January 28th. Keefe, Bruyette & Woods reiterated a “buy” rating and issued a $52.00 price target on shares of First Merchants in a report on Thursday, January 25th. BidaskClub downgraded shares of First Merchants from a “hold” rating to a “sell” rating in a report on Thursday, January 25th. Finally, Zacks Investment Research upgraded shares of First Merchants from a “hold” rating to a “buy” rating and set a $49.00 price target on the stock in a report on Friday, January 12th. One investment analyst has rated the stock with a sell rating, one has given a hold rating and three have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and a consensus target price of $49.67.

First Merchants (NASDAQ FRME) opened at $43.22 on Monday. First Merchants has a fifty-two week low of $36.73 and a fifty-two week high of $45.42. The company has a debt-to-equity ratio of 0.43, a current ratio of 0.93 and a quick ratio of 0.93. The firm has a market cap of $2,124.62, a P/E ratio of 18.39, a P/E/G ratio of 2.08 and a beta of 0.91.

In other news, Director Michael C. Marhenke acquired 2,000 shares of the company’s stock in a transaction dated Wednesday, November 29th. The shares were acquired at an average price of $43.68 per share, with a total value of $87,360.00. Following the purchase, the director now directly owns 33,543 shares of the company’s stock, valued at $1,465,158.24. The purchase was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Mark K. Hardwick sold 4,301 shares of the firm’s stock in a transaction that occurred on Tuesday, November 7th. The stock was sold at an average price of $42.61, for a total transaction of $183,265.61. The disclosure for this sale can be found here. In the last quarter, insiders purchased 5,188 shares of company stock worth $223,460. 1.41% of the stock is owned by corporate insiders.

Hedge funds and other institutional investors have recently modified their holdings of the company. Advisor Group Inc. grew its stake in shares of First Merchants by 8.3% during the 2nd quarter. Advisor Group Inc. now owns 2,981 shares of the bank’s stock worth $120,000 after purchasing an additional 228 shares during the period. Macquarie Group Ltd. acquired a new stake in shares of First Merchants during the 3rd quarter worth approximately $172,000. Amalgamated Bank grew its stake in shares of First Merchants by 1.1% during the 2nd quarter. Amalgamated Bank now owns 5,181 shares of the bank’s stock worth $208,000 after purchasing an additional 58 shares during the period. Koch Industries Inc. acquired a new stake in shares of First Merchants during the 2nd quarter worth approximately $242,000. Finally, Trexquant Investment LP acquired a new stake in shares of First Merchants during the 3rd quarter worth approximately $243,000. 68.77% of the stock is currently owned by institutional investors and hedge funds.

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First Merchants Company Profile

First Merchants Corporation is a financial holding company. The Company has a bank charter, First Merchants Bank (the Bank), which is opened for business in Muncie, Indiana. It operates through community banking business segment. The Bank also operates Lafayette Bank and Trust, and First Merchants Private Wealth Advisors (each as a division of First Merchants Bank).

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Earnings History and Estimates for First Merchants (NASDAQ:FRME)

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